Phoenix Global Resources PLC Directorate Change (1909F)
18 Marzo 2022 - 1:01AM
UK Regulatory
TIDMPGR
RNS Number : 1909F
Phoenix Global Resources PLC
18 March 2022
18 March 2022
Phoenix Global Resources plc
("Phoenix" or the "Company")
Board Changes
Phoenix Global Resources plc (AIM: PGR; BCBA: PGR), the upstream
oil and gas company, which offers its investors exposure to
Argentina's Vaca Muerta shale formation and other unconventional
resources, announces a change to the composition of the Board.
With immediate effect, Daniel Jaeggi, Non-Executive Director has
stepped step down as the Mercuria Group's representative on the
Board and has been replaced by Magid Shenouda as Non-Executive
Director.
Magid is Deputy CEO and Group Head of Trading at Mercuria Energy
Group Limited. He is responsible for overseeing Mercuria's core
business function. Prior to Mercuria, Magid was global co-head of
commodities trading at Goldman Sachs, where he was responsible for
driving several key acquisitions, as well as the expansion of the
commodities business. At Goldman, he was named managing director in
2005 and partner in 2008. Magid joined Goldman in London as an
executive director in oil trading in 1999. Prior to assuming this
role, he was head of European crude oil and products trading, and
European gas and power trading. Magid was a member of the
Securities Division EMEA Operating Committee and the Physical
Commodity Review Committee.
Sir Michael Rake, Chairman of Phoenix said:
"We would like to thank Daniel for his contribution to Phoenix
over the time he has been a director and would like to welcome
Magid to the Board, who brings with him a wealth of
experience."
Additional information to be disclosed pursuant to Schedule 2(g)
and Rule 17 of the AIM Rules for Companies:
Magid Nabil Shenouda, Non-Executive Director, aged 52 years,
does not personally hold a direct interest in the Company's share
capital, but has an indirect interest in the Company via Mercuria
Energy Group Holding Ltd, which holds approximately 84 per cent. of
the Company's issued share capital.
Magid is currently a director/partner of the following
companies:
- CWP Europe SARL
- Eclipse Film Partners No.35 LLP
- MDJ Partnership
- Mercuria Energy Group Holding Ltd
- Mercuria Energy Group Limited
- Mertech Holding Ltd
- Minerva (Singapore) Pte. Ltd
Other than the information contained within this announcement,
there is no further information required to be disclosed under Rule
17 and Schedule Two paragraph (g) of the AIM Rules.
Ends
For further information, please contact:
Phoenix Global Resources plc Nigel Duxbury T: +44 20 3912 2800
Shore Capital Toby Gibbs T: +44 20 7408 4090
Nominated Adviser and Joint David Coaten
Broker
Panmure Gordon John Prior T: +44 20 7886 2500
Joint Broker Atholl Tweedie
About Phoenix
Phoenix Global Resources is an independent oil and gas
exploration and production company focused on Argentina and listed
on both the London Stock Exchange (AIM: PGR) and the Buenos Aires
Stock Exchange (BCBA: PGR) and offers its investors an opportunity
to invest directly into Argentina's Vaca Muerta shale formation and
other unconventional resources. The Company has over 0.9 million
licenced working interest acres in Argentina (of which
approximately 0.7 million are operated), 18.8 million boe of
working interest 2P reserves and average working interest
production of 4,549 boepd in 2020. Phoenix has signi cant exposure
to the unconventional opportunity in Argentina through its
approximately 0.6 million working interest acres with Vaca Muerta
and other unconventional potential.
The Company's website is www.phoenixglobalresources.com
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END
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